QQQ Descending Broadening Wedge an update

• The descending broadening wedge of QQQ has given a breakout.
• QQQ had a similar pattern in daily chart which performed well as shown in daily chart.
• For this pattern if price closes above the Golden ratio we may see the recent high's at 68 getting tested again.
• Unable to sustain above Golden ratio will result in a gall back into the pattern.

Bank of America Support levels

• BAC at 50 Day SMA.
• Price is also near its 200 Day SMA.
• For bulls of BAC Price should sustain above 50 Week SMA (7.25) On closing basis to avoid a bigger fall.
• Sustaining above these levels could lead to an up move.
• S&P 500 ANALYSIS AFTER CLOSE

CRUDE Oil resistance levels

• Crude oil daily chart testing a possible resistance line in four hour chart.
• We may see a false breakout above this line for price to hit 100 Day SMA from where we may see a correction.
• 50% Fib level too may act as resistance.
• S&P 500 ANALYSIS AFTER CLOSE

MCX Gold Chart Update

• MCX Gold shows a Descending triangle pattern in four hour chart with crucial support near 29000 - 29100. 
• Breakout above the resistance line and 29400 will favor a bullish trade for this contract.

NIFTY Chart Analysis

• Nifty daily chart getting support at 100 Day SMA. For bears this level must break for further breakdown.
• Weekly stochastic is showing overbought levels and will be effective as long as price sustains below the falling resistance line.
• For a bigger up move price must stay above the lines and 5370 level as shown in weekly line chart.
• S&P 500 EOD UPDATE

S&P 500 Analysis after closing bell

• SPX Managed to clear the falling resistance line.
• Price is yet to clear the range of 1325 - 1374.
• If price manage to break above 1374 it may target 78.6% Fib level around 1391 level.